Bill > S05974

This bill requires all firearm owners in New York State to obtain and continuously maintain liability insurance of at least one million dollars that specifically covers damages resulting from negligent acts involving their firearm. If an owner fails to maintain such insurance, their firearm registration, license, and ownership privileges will be immediately revoked. The bill defines firearm ownership as extending to a weapon until its loss or theft is reported to local law enforcement. Current firearm owners will have 30 days from the bill's effective date to obtain the required insurance. The insurance requirement does not apply to peace officers, police officers, or active military personnel authorized to carry firearms. The insurance department is authorized to create rules and regulations to implement this new requirement. The bill will take effect 90 days after becoming law, with provisions allowing for preliminary rule-making to be completed before the effective date. The key purpose appears to be increasing financial accountability and responsibility for firearm owners by mandating liability coverage that could help compensate potential victims of firearm-related incidents.

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https://www.nysenate.gov/legislation/bills/2025/S5974